Question

Ignoring issues of the Statute of Frauds, is there a contract for the sale of Vinny’s Celica? Yes, between Vinny and Oscar for $4,000 now and $1,000 in a month Yes, between Vinny and Oscar for $5,000 cash, since that was the first offer accepted. Yes, between Vinny and Maria for $5,500, since Maria gave the highest offer. Yes, between Vinny and Oscar, if Oscar is willing to pay $5,500. Ignore Vinny's agreement with Oscar and assume that Vinny and Maria had an otherwise valid contract. Could Maria avoid her obligations if she finds out the car does not have air conditioning? Yes, it is implied that she can test drive the car before a contract is formed. No, the only condition in her acceptance was that it pass a smog inspection. Yes, she wanted a car with air conditioning so she could later say she meant for it to be in the contract. Yes, since most people prefer cars with air conditioning.

Answer 1

Answer:

The correct answers are :

1. Yes, between Vinny and Oscar for $5,000 cash, since that was the first offer accepted.

2. No, the only condition in her acceptance was that it pass a smog inspection.

Explanation:

This refers to a legal concept that requires some types of contracts to be executed in writing.  It also applies to certain oral contracts. Normally these ones have to be signed by the two parties. What is tries to do is to prevent fraud and perjury. It is used to stipulate a written contract when a transaction is made.